NYSE : AMRZ
Amrize AG — Financial statements
Materials · Building Materials · Switzerland
Last price 41.38 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 21.88B
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Financial statements
Amrize AG (AMRZ) reported revenue of 12.26B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 12.26B | 11.81B | 11.70B | 11.68B | 10.73B | 8.13B |
| Cost of Revenue | 9.22B | 8.78B | 8.63B | 8.91B | 8.25B | 6.31B |
| Gross Profit | 3.05B | 3.03B | 3.07B | 2.77B | 2.47B | 1.82B |
| Selling, General & Admin | 1.12B | 1.08B | 920.00M | 882.00M | 727.00M | 518.00M |
| Operating Expenses | 1.12B | 1.08B | 920.00M | 882.00M | 727.00M | 518.00M |
| Operating Income | 1.93B | 1.95B | 2.15B | 1.89B | 1.75B | 1.30B |
| Interest Expense | -365.00M | -461.00M | -547.00M | -564.00M | -252.00M | -179.00M |
| Interest & Investment Income | 24.00M | 48.00M | 35.00M | 15.00M | 4.00M | 1.00M |
| Earnings From Equity Investments | 12.00M | 11.00M | 13.00M | 13.00M | 13.00M | 12.00M |
| Other Non Operating Income (Expenses) | 5.00M | 4.00M | 6.00M | -3.00M | 9.00M | -13.00M |
| EBT Excluding Unusual Items | 1.60B | 1.55B | 1.66B | 1.35B | 1.52B | 1.12B |
| Merger & Restructuring Charges | -16.00M | -25.00M | -16.00M | |||
| Gain (Loss) on Sale of Assets | 17.00M | 15.00M | 71.00M | 32.00M | 36.00M | 22.00M |
| Asset Writedown | -15.00M | -15.00M | -2.00M | -15.00M | -57.00M | |
| Other Unusual Items | -26.00M | -43.00M | -85.00M | -33.00M | ||
| Pretax Income | 1.58B | 1.51B | 1.64B | 1.32B | 1.47B | 1.13B |
| Income Tax Expense | 332.00M | 326.00M | 368.00M | 361.00M | 366.00M | 284.00M |
| Earnings From Continuing Operations | 1.25B | 1.18B | 1.27B | 955.00M | 1.11B | 843.00M |
| Minority Interest in Earnings | 5.00M | 3.00M | 1.00M | 1.00M | 1.00M | -2.00M |
| Net Income | 1.25B | 1.19B | 1.27B | 956.00M | 1.11B | 841.00M |
| Net Income to Common | 1.25B | 1.19B | 1.27B | 956.00M | 1.11B | 841.00M |
| Shares Outstanding (Basic) | 550.85M | 553.10M | 553.10M | 553.10M | ||
| Shares Outstanding (Diluted) | 551.95M | 553.60M | 553.10M | 553.10M | ||
| EPS (Basic) | 2.27 | 2.14 | 2.30 | 1.73 | ||
| EPS (Diluted) | 2.27 | 2.14 | 2.30 | 1.73 | ||
| Free Cash Flow | 1.08B | 1.42B | 1.64B | 1.41B | 1.50B | 1.10B |
| Free Cash Flow Per Share | 1.95 | 2.56 | 2.96 | 2.54 | ||
| Dividend Per Share | 0.44 | 0.44 | ||||
| Gross Margin | 24.84% | 25.68% | 26.23% | 23.71% | 23.05% | 22.36% |
| Operating Margin | 15.71% | 16.50% | 18.37% | 16.16% | 16.27% | 15.99% |
| Profit Margin | 10.21% | 10.03% | 10.88% | 8.19% | 10.33% | 10.34% |
| Free Cash Flow Margin | 8.77% | 12.02% | 14.01% | 12.04% | 13.98% | 13.50% |
| EBITDA | 2.92B | 2.86B | 3.04B | 2.75B | 2.54B | 2.01B |
| EBITDA Margin | 23.77% | 24.23% | 25.96% | 23.57% | 23.73% | 24.74% |
| D&A For EBITDA | 988.00M | 914.00M | 889.00M | 865.00M | 800.00M | 712.00M |
| EBIT | 1.93B | 1.95B | 2.15B | 1.89B | 1.75B | 1.30B |
| EBIT Margin | 15.71% | 16.50% | 18.37% | 16.16% | 16.27% | 15.99% |
| Effective Tax Rate | 21.03% | 21.62% | 22.43% | 27.43% | 24.85% | 25.20% |
| Advertising Expenses | 45.00M | 25.00M | 15.00M | 10.00M | 5.00M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 299.00M | 1.92B | 1.58B | 1.11B | 351.00M | |
| Cash & Short-Term Investments | 299.00M | 1.92B | 1.58B | 1.11B | 351.00M | |
| Accounts Receivable | 2.22B | 1.10B | 1.02B | 1.21B | 963.00M | |
| Other Receivables | 40.00M | 44.00M | 76.00M | 66.00M | 111.00M | |
| Receivables | 2.26B | 1.15B | 1.63B | 1.42B | 1.41B | |
| Inventory | 1.57B | 1.55B | 1.45B | 1.31B | 1.23B | |
| Prepaid Expenses | 94.00M | 63.00M | 112.00M | 100.00M | 117.00M | |
| Other Current Assets | 11.00M | 1.00M | 3.00M | 51.00M | ||
| Total Current Assets | 4.23B | 4.68B | 4.78B | 3.94B | 3.16B | |
| Property, Plant & Equipment | 9.16B | 8.54B | 8.08B | 8.07B | 7.75B | |
| Long-Term Investments | 50.00M | 56.00M | 61.00M | 57.00M | ||
| Goodwill | 9.06B | 9.02B | 8.92B | 8.97B | 8.12B | |
| Other Intangible Assets | 1.66B | 1.73B | 1.83B | 1.88B | 1.44B | |
| Long-Term Accounts Receivable | 10.00M | 13.00M | 15.00M | |||
| Long-Term Deferred Tax Assets | 29.00M | |||||
| Other Long-Term Assets | 241.00M | 214.00M | 123.00M | 94.00M | 145.00M | |
| Total Assets | 24.36B | 24.25B | 23.80B | 23.05B | 20.67B | |
| Accounts Payable | 1.27B | 1.54B | 1.29B | 1.26B | 1.16B | |
| Accrued Expenses | 426.00M | 341.00M | 345.00M | 354.00M | 118.00M | |
| Current Portion of Long-Term Debt | 708.00M | 333.00M | 134.00M | 131.00M | 348.00M | |
| Current Portion of Leases | 257.00M | 247.00M | 214.00M | 188.00M | 173.00M | |
| Current Income Taxes Payable | 110.00M | 111.00M | 196.00M | 119.00M | 14.00M | |
| Current Unearned Revenue | 53.00M | 44.00M | 67.00M | 48.00M | 43.00M | |
| Other Current Liabilities | 232.00M | 243.00M | 301.00M | 344.00M | 391.00M | |
| Total Current Liabilities | 3.96B | 2.86B | 2.55B | 2.44B | 2.25B | |
| Long-Term Debt | 4.24B | 4.94B | 8.50B | 8.64B | 7.62B | |
| Long-Term Leases | 887.00M | 827.00M | 698.00M | 564.00M | 516.00M | |
| Long-Term Unearned Revenue | 436.00M | 401.00M | 341.00M | 268.00M | 253.00M | |
| Pension & Post-Retirement Benefits | 220.00M | 229.00M | 235.00M | 259.00M | 250.00M | |
| Long-Term Deferred Tax Liabilities | 1.11B | 1.05B | 936.00M | 998.00M | 944.00M | |
| Other Long-Term Liabilities | 743.00M | 697.00M | 633.00M | 671.00M | 623.00M | |
| Total Liabilities | 11.60B | 10.99B | 13.89B | 13.84B | 12.46B | |
| Common Stock | 6.00M | 6.00M | 10.52B | 9.52B | 8.58B | |
| Additional Paid-In Capital | 12.61B | 12.74B | ||||
| Retained Earnings | 1.50B | 902.00M | ||||
| Comprehensive Income & Other | -543.00M | -391.00M | -606.00M | -317.00M | -372.00M | |
| Total Common Equity | 12.77B | 13.26B | 9.91B | 9.20B | 8.21B | |
| Minority Interest | -9.00M | -4.00M | -1.00M | 1.00M | ||
| Shareholders' Equity | 12.76B | 13.25B | 9.91B | 9.20B | 8.21B | |
| Total Liabilities & Equity | 24.36B | 24.25B | 23.80B | 23.05B | 20.67B | |
| Total Debt | 6.99B | 6.34B | 9.54B | 9.52B | 8.66B | |
| Net Cash (Debt) | -6.69B | -4.42B | -7.96B | -8.42B | -8.31B | |
| Net Cash Per Share | -12.13 | -7.99 | -14.39 | -15.22 | ||
| Filing Date Shares Outstanding | 532.39M | 553.08M | 566.88M | 553.10M | ||
| Total Common Shares Outstanding | 536.88M | 553.08M | 566.88M | 553.10M | ||
| Working Capital | 265.00M | 1.82B | 2.23B | 1.50B | 906.00M | |
| Book Value Per Share | 23.78 | 23.97 | 17.49 | |||
| Tangible Book Value | 2.05B | 2.51B | -834.00M | -1.65B | -1.35B | |
| Tangible Book Value Per Share | 3.83 | 4.54 | -1.47 | |||
| Land | 3.63B | 3.34B | 3.36B | 3.43B | 3.25B | |
| Buildings | 3.07B | 3.03B | 2.95B | 2.88B | 2.77B | |
| Machinery | 10.09B | 9.55B | 9.00B | 8.80B | 8.56B | |
| Construction In Progress | 762.00M | 470.00M | 439.00M | 522.00M | 403.00M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 1.25B | 1.19B | 1.27B | 956.00M | 1.11B | 841.00M |
| Depreciation & Amortization | 988.00M | 914.00M | 889.00M | 865.00M | 800.00M | 712.00M |
| Other Amortization | 1.00M | 1.00M | ||||
| Loss (Gain) From Sale of Assets | -15.00M | -15.00M | -40.00M | -32.00M | -36.00M | -22.00M |
| Asset Writedown & Restructuring Costs | 15.00M | 15.00M | 2.00M | 15.00M | 57.00M | |
| Stock-Based Compensation | 37.00M | 14.00M | 6.00M | 5.00M | 4.00M | 4.00M |
| Other Operating Activities | 204.00M | 221.00M | 113.00M | 110.00M | 40.00M | 54.00M |
| Change in Accounts Receivable | -116.00M | -43.00M | 211.00M | -83.00M | 38.00M | -50.00M |
| Change in Inventory | -119.00M | -61.00M | -146.00M | -7.00M | -296.00M | -41.00M |
| Change in Accounts Payable | -67.00M | 190.00M | 28.00M | 60.00M | 195.00M | 154.00M |
| Change in Other Net Operating Assets | -166.00M | -212.00M | -55.00M | 147.00M | 77.00M | -161.00M |
| Operating Cash Flow | 2.01B | 2.21B | 2.28B | 2.04B | 1.99B | 1.49B |
| Capital Expenditures | -937.00M | -788.00M | -642.00M | -630.00M | -488.00M | -394.00M |
| Sale of Property, Plant & Equipment | 23.00M | 23.00M | 61.00M | 49.00M | 52.00M | 38.00M |
| Cash Acquisitions | -467.00M | -86.00M | -249.00M | -1.61B | -2.03B | -3.45B |
| Other Investing Activities | 35.00M | 490.00M | -378.00M | 163.00M | -52.00M | 1.31B |
| Investing Cash Flow | -1.35B | -361.00M | -1.21B | -2.02B | -2.52B | -2.50B |
| Long-Term Debt Issued | 3.42B | 230.00M | 1.47B | 1.27B | 2.00B | |
| Short-Term Debt Repaid | -129.00M | -101.00M | -328.00M | -160.00M | -289.00M | |
| Long-Term Debt Repaid | -5.65B | -354.00M | -390.00M | -385.00M | -950.00M | |
| Total Debt Repaid | -455.00M | -5.78B | -455.00M | -718.00M | -545.00M | -1.24B |
| Net Debt Issued (Repaid) | -98.00M | -2.36B | -225.00M | 747.00M | 725.00M | 761.00M |
| Other Financing Activities | 14.00M | 804.00M | -312.00M | -13.00M | -228.00M | 475.00M |
| Financing Cash Flow | -1.20B | -1.55B | -537.00M | 734.00M | 497.00M | 1.24B |
| Foreign Exchange Rate Adjustments | 4.00M | 45.00M | -59.00M | 11.00M | -12.00M | -4.00M |
| Net Cash Flow | -527.00M | 337.00M | 478.00M | 756.00M | -48.00M | 226.00M |
| Free Cash Flow | 1.08B | 1.42B | 1.64B | 1.41B | 1.50B | 1.10B |
| Free Cash Flow Margin | 8.77% | 12.02% | 14.01% | 12.04% | 13.98% | 13.50% |
| Free Cash Flow Per Share | 1.95 | 2.56 | 2.96 | 2.54 | ||
| Levered Free Cash Flow | 933.25M | 1.58B | 968.88M | 1.43B | ||
| Unlevered Free Cash Flow | 1.16B | 1.87B | 1.31B | 1.79B | ||
| Cash Interest Paid | 411.00M | 411.00M | 497.00M | 504.00M | 222.00M | 208.00M |
| Cash Income Tax Paid | 299.00M | 369.00M | 302.00M | 211.00M | 170.00M | 220.00M |
| Change in Working Capital | -468.00M | -126.00M | 38.00M | 117.00M | 14.00M | -98.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 21.88B | 30.39B | ||||
| Enterprise Value | 28.65B | 36.48B | ||||
| Last Close Price | 41.38 | 53.42 | ||||
| PE Ratio | 18.02 | 25.65 | ||||
| PS Ratio | 1.78 | 2.57 | ||||
| PB Ratio | 1.71 | 2.29 | ||||
| P/TBV Ratio | 10.65 | 12.11 | ||||
| P/FCF Ratio | 20.33 | 21.40 | ||||
| P/OCF Ratio | 10.87 | 13.76 | ||||
| EV/Sales Ratio | 2.34 | 3.09 | ||||
| EV/EBITDA Ratio | 9.83 | 12.74 | ||||
| EV/EBIT Ratio | 14.87 | 18.72 | ||||
| EV/FCF Ratio | 26.62 | 25.69 | ||||
| Debt / Equity Ratio | 0.55 | 0.48 | 0.96 | 1.03 | 1.05 | |
| Debt / EBITDA Ratio | 2.20 | 2.05 | 2.93 | 3.21 | 3.13 | |
| Debt / FCF Ratio | 6.50 | 4.47 | 5.82 | 6.77 | 5.77 | |
| Net Debt / Equity Ratio | 0.53 | 0.33 | 0.80 | 0.92 | 1.01 | |
| Net Debt / EBITDA Ratio | 2.30 | 1.54 | 2.62 | 3.06 | 3.27 | |
| Net Debt / FCF Ratio | 6.22 | 3.11 | 4.85 | 5.99 | 5.54 | |
| Asset Turnover | 0.51 | 0.49 | 0.50 | 0.53 | ||
| Inventory Turnover | 5.99 | 5.85 | 6.26 | 7.03 | ||
| Quick Ratio | 0.65 | 1.07 | 1.05 | 0.97 | 0.63 | |
| Current Ratio | 1.07 | 1.64 | 1.88 | 1.61 | 1.40 | |
| Return on Equity (ROE) | 9.72% | 10.20% | 13.32% | 10.97% | ||
| Return on Assets (ROA) | 4.98% | 5.07% | 5.74% | 5.39% | ||
| Return on Invested Capital (ROIC) | 7.87% | 8.60% | 9.40% | 8.02% | 7.94% | |
| Return on Capital Employed (ROCE) | 9.50% | 9.10% | 10.10% | 9.20% | 9.50% | |
| Earnings Yield | 5.55% | 3.90% | ||||
| FCF Yield | 4.92% | 4.67% | ||||
| Dividend Yield | 1.86% | 0.80% | ||||
| Buyback Yield / Dilution | 0.25% | -0.09% | ||||
| Total Shareholder Return | 2.11% | 0.71% |